Regions Reduces Quarterly Cash Dividend to Further Strengthen Capital Position

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Apr. 16, 2009--
Regions Financial Corp. (NYSE: RF) announced that its Board of Directors
voted today to reduce Regions’ quarterly cash dividend from $0.10 to
$0.01 per common share to further strengthen its capital position. The
move will allow the company to preserve approximately $250 million in
capital on an annualized basis.

“This was a difficult decision for the Board, and we are committed to
increasing the dividend as soon as it is prudent and can be supported by
sustained earnings growth,” said Dowd Ritter, Regions’ chairman,
president and CEO.

The dividend is payable July 1, 2009, to stockholders of record as of
June 17, 2009.

About Regions Financial Corporation

Regions Financial Corporation, with $146 billion in assets, is a member
of the S&P 100 Index and one of the nation’s largest full-service
providers of consumer and commercial banking, trust, securities
brokerage, mortgage and insurance products and services. Regions serves
customers in 16 states across the South, Midwest and Texas, and through
its subsidiary, Regions Bank, operates 1,900 banking offices and
approximately 2,300 ATMs. Its investment and securities brokerage trust
and asset management division, Morgan Keegan & Company Inc., provides
services from over 300 offices. Additional information about Regions and
its full line of products and services can be found at www.regions.com.